With the launch of our 10th Food-X cohort this fall and 5 years of running the first food startup accelerator, we are grateful for the nearly 90 companies that have made Food-X what it is today.
Throughout the journey of running an accelerator, we’ve met hundreds of inspiring and hard-working entrepreneurs and been fortunate to have a front-row seat to the massive changes that continue to shake-up our food system. From our beginnings in 2014, we’ve pioneered the most active food innovation accelerator in the world. In total, we have invested more than $10 million in startups, such as Halla, Uplift Food, Bizzy Coffee, Simply Good Jars, and Abbot’s Butcher, who have gone on to raise an additional $40 plus million.
In the last 24 months we have zeroed in on three critical areas we believe will transform the industry. Specifically, the intersection of food and medicine, rethinking how we more efficiently use (and reuse) our resources, and how the application of technology (both deep tech and tech-enabled businesses) are changing the landscape of food and ag. This 10th cohort of Food-X represents all three of those areas. We are excited by the prospects of these eight companies we are proud to work closely with every day.
Among the companies are a disrupter fueling the tea category with clean, raw, fresh-leaf products; an AI-powered precision nutrition platform; a venture offering antioxidant-rich beverages made from upcycled avocado seeds; and a startup tackling global food waste — one city at a time, to name a few.
Food-X cohort 10 is:
- AI Nutrition: An AI-powered precision nutrition platform that integrates with online grocers to automate the shopping experience for better health outcomes, lower costs, and reduced food waste.
- Bevv: An online marketplace and a logistics and e-commerce solution for craft breweries and cideries to reach consumers — from the taproom to their front door.
- Edi Health: A curated health and wellness marketplace featuring nutrient-dense ingredients and products from top global brands.
- Farma Genetix: A startup harnessing food as medicine to help cure chronic conditions through genetically tuned natural supplements and personalized customized diets.
- Hidden Gems Beverage Company: A venture offering antioxidant-rich ready-to-drink beverages made from upcycled ingredients to move towards the complete reutilization of produce and reduce food waste. First up: Avoh!, a beverage made from avocado seeds.
- Millennia TEA: The creators of an entirely new category of tea — clean, raw, fresh-leaf tea — to deliver maximum antioxidants and fuel wellness.
- YoFiit: A startup on a mission to elevate nutrition in the plant-based food and beverage category, including “Miylk10” — a ground-breaking high protein, gum-free, non-dairy milk made from chickpeas and flax that matches the macronutrients of 1% cow’s milk.
- YourLocal: A food-rescue startup working with reputable neighborhood restaurants to offer quality surplus food at 50–70% off to conscious consumers via the YourLocal app.
Our team reviewed nearly 500 applications from more than 50 countries before landing on these eight startups from Canada, the Czech Republic, Denmark, and the U.S. And we are elated that fifty percent of the Cohort 10 companies are led by a female CEO, well above the industry average. According to Pitchbook, U.S. companies founded solely by women garnered 2.3 percent of the total capital invested in venture-backed startups in 2018.
“Food-X fosters new generations of entrepreneurs that bring innovative concepts to market. We equip them to create a more responsible and sustainable food future,” said Peter Bodenheimer, Managing Director and Partner, Food-X. “Health-conscious consumers are rising up and the food as medicine movement has arrived. 75 percent of Cohort 10 makes nutrition a top priority to help treat chronic disease, improve health, and increase the quality of life. Our team is excited to work with these founders as they build businesses that will redefine the food system.”
These companies are already hard at work in a 3-month program designed to empower a new generation of food innovators, helping nascent companies grow quickly and reach their full potential. We do this through a blend of financial and human capital investments that include startup capital, expert mentorship, and access to a global network of thought leaders.
And as Food-X matures, the strongest resource for our newest members is the growing Food-X Alumni community. Our involvement with the cohort doesn’t end after the startups graduate from the program with a capstone event to present our network of angel investors, family offices, corporate and venture capital funds, and media. We create lasting, long-term relationships with our portfolio companies, providing follow-on investment and ongoing guidance throughout the entire life cycle.
Food-X is accepting applications for our eleventh cohort, which kicks off in the spring. We encourage food entrepreneurs working to change the food system to apply early at www.sosv.com/apply/food-x/